Viatris signs agreements with Biocon on $815m stake sale

Viatris has signed definitive agreements for the sale of its equity stake in Biocon Biologics to Biocon for $815m. Viatris will sell all of its convertible preferred equity in Biocon Biologics. The deal value comprises $415m in newly issued Biocon equity shares and $400m in cash. The newly issued shares will be listed and traded on the National Stock Exchange of India. They will be subject to a lock-up period of six months, and the overall transaction value will be adjusted for applicable taxes. The agr ...